Blog

Stockton University - Atlantic City Opening Fall 2018

October 27th, 2017 8:09 AM

The new Stockton University campus in Atlantic City is conveniently
located at the intersection of Atlantic,
Albany and Pacific avenues, with apartments for over 500
students overlooking the beach and Boardwalk. The University
plans to open the Atlantic City campus in
2018 with about 1,000 students and grow from there.

From shopping and restaurants, the art district, local attractions,
entertainment and the famous Atlantic City
Boardwalk, students will immerse themselves in the local
scene, participate in service-learning and
community engagement projects.

Stockton's Atlantic City campus is accessible by major highways and
will feature ample parking for students and
residents, with 879 spaces available. South Jersey Gas Company's
office building will sit atop the parking garage and
will have additional spaces for their
employees and customers. And for those that need a ride, Stockton's
shuttle system will be expanded to provide
convenient access between the main campus in Galloway
and the Atlantic City campus.

In April 2016, the state of New Jersey designated Stockton University as an Anchor Institution.
The decision to do so recognizes Stockton's impact on Atlantic City and
the surrounding region, as well as its
potential to contribute to, and help stabilize the local economy.

The project is a public-private partnership with Atlantic City
Development Corp. (AC Devco), a non-profit modeled off of New Brunswick
Development Corp., which expanded Rutgers'
New Brunswick campus along with other projects in the community.

Funding sources for the Atlantic City campus include: $50.6 million
in bonds issued by the Atlantic County
Improvement Authority that are secured by almost $70 million
in tax credits from the New Jersey Economic Development
Authority; $77.2 million of lease revenue
bonds issued by the Atlantic County Improvement Authority that are
payable by the University; $22 million grant
awarded under the State of New Jersey's Higher
Education Capital Improvement Fund Act; $18 million from Stockton;
and, $8.3 million from South Jersey
Industries for the costs of the parking garage.